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20110729
20110729
Search Results 0 to 14 of about 15 (some duplicates have been removed)
and hang seng closed down. let's go to kristie lu stout. what's the big headline this morning, kristie it's all a ar w rows down. the yen soon as a safe haven continues to rise. meanwhile stocks in europe are also dae cleaning. europe is battling its own debt crisis. moody's has placed spain's government bonds on a downgrachltd government pressures and weak growth were behind that decision. ali, back to you in new york. >> kristie, we always worry when we get into a weekend and we have a deadline and we don't have a deal here that that's going to start touching asian markets more quickly than it's going to touch u.s. markets on monday. what's the reaction to the u.s. not having a deal so far? >> let's look a at the political reaction out of china, the largest foreign holder. chinese leaders, the they're not just worried. they're angry. stephen roach, of morgan stanley, he's been telling cnn that chinese leaders are appalled and that they think that america's behavior could create havoc in the global economy. meanwhile the news agency shing wa released a statement says, quote, the well bei
of some instruments that could -- showing, you know, trouble in the lending market. >> the big question is, will washington let that happen, and right now that answer is not any clearer than it was yesterday morning. we begin with breaking news, though. this titanic struggle that's continued to go on right now to end the debt crisis before next tuesday's deadline. here's a live look at the capitol where overnight, infighting among republicans forced house speaker john boehner to yank his debt bill. they thought there was going to be a vote last night. there is hope he will try to pass it again today. in four hours the speaker will again sit down with fellow republicans and again try to entice just a handful of hardline conservatives to fall in line. >> the bill's not perfect. i never said it was perfect. nobody in my caucus believes it's perfect. but what this bill reflects is a sincere, honest effort to end this crisis in a bipartisan way to send it to the senate where it can receive action. >> now the speaker's bill would cut $900 billion from the budget over ten years in exchange for a
of washington's impact. but mining stocks with big drags here. we have rio tinto. financials fell. >> you know, ramy, we've been so preoccupied by what's happened in washington that sometimes it's easy to lose sight of the fact we are in the midst of earnings seasons. we've had reports across the region. >> nintendo, they slashed their full year's forecast earnings by a whopping 82%. that's because gamers aren't so interested in their handheld 3-d game players which came out five months ago. that would be the 3-ds. that's the biggest fall in the past two decades. you're looking at a year to date. nintendo share prices dropped a whopping 47%. it's a similar story, not so bad for sony. they cut its profit estimate for the year by about 25%. this was yesterday. that's because of weak demand for tvs like this bravia over in the u.s. and europe. sony's share price year to date has also dropped by about 35%. but, you know, it's not all doom and gloom. they say its net income surged to about $1.31 billion. this is for the six months to may. forecasters had been -- forecast had been for earnings for a
and he has made you laugh and being a big part of making the mornings special for you. we want to leave on an updetroit note. good luck to you, kiran. it's 9:00 a.m. on the east coast and 6:00 a.m. on the west coast. i'm kyra phillips. >>> a race against the debt deadline. a revolt among house republicans forces a critical vote to be delayed. police in texas say a muslim american soldier confessed to plotting an attack on ft. hood just two years after a muslim officer shot to death 13 people on that same base. >>> tropical storm don could hit the south texas coast tonight and drought-stricken farmers are welcoming the prospect of up to 7 inches of rain. >>> we begin with that sobering reality check on the debt crisis and just how daunting the challenge has become. in less than four days, the federal government could run out of money and default on its bills. but on capitol hill, the process has taken a huge step back. house speaker john boehner abruptly delayed a vote on his debt plan because of a revolt within his own party. joe johns is in washington with more on the political battle
shows how big this struggle is right now. >> it's adding fodder, too, for the comedians. take a listen. >> our government is days away from being broke. congress' latest plan is to see how much cash they can get for john mccain on antiques road show. 33 soldiers from the mexican army were allowed to return to mexico yesterday after they accidently crossed the border into america. did you hear about that some heart. think about it. things have gotten so bad in in country that people are only crossing the border now by accident. according to a recent survey, this year kids are receiving an average of 40 cents less under their pillows from the tooth fairy. enmake believe people are feeling the pinch. >> i don't know, he tried, don't you think? >> i tell you, this crisis is giving late night com he cans a lot of fuel, but unfortunately, it's not a laughing matter. so hopefully something will happen this weekend. >> all right, we'll be paying close attention. all the comedians, as well. >>> a new report now mentions that there is one american company with more money on hand than the governm
's dysfunctional is we have divided government. that requires compromise. even though we have had big disputes over the years, there's been a situation where parties work together for things that have to happen. i know people around the country are frustrated and angry. the president shares that frustration. it's why the phone lines are jammed on the hill. e-mails and websites are going down because people don't understand why compromise is a dirty word in this town. >> how much responsibility does the white house take for the kurpt economy. there comes a point when blaming george bush no longer holds water. when you look at the credit rating coming down, how much blame are you guys taking in that? >> what the president has said is we didn't get into this mess overnight and we are not going to get out overnight. the president inherited financial challenges. we are working to get out of it. the president said the recovery is happening, but not fast enough. we are not creating enough jobs, the economy is not working. if we are going to have a real solution, it has to be republicans and democrats work
as 40,000 dead in the last four years. this shocking reality has made it's way on the big screen with a new genre called narco movies. in this movie called "high-powered people," a drug lord and an associate discuss alliances. the violence in their movies pales in comparison to reality. >> translator: we're not even close to reflecting reality. can you call our movies soft because we don't show as much blood and killings. we just try to give people what they want. >> reporter: the english translation of the movie titles are very revealing. the bough so the film makers say they make sure the screen plays don't rub any of the cartels the wrong way, and it's a kinds of self censorship that keeps them safe. >> translator: we deal with these issues in the best way possible. we're not afraid they will come after us because we behave. we do things the best we can and so far we have not been threatened by anybody. >> rafael romo joins me now. is anybody concerned about the glorification of what the cartels are all about? >> there is great concern. the movies are not yet mainstream in mex
's going to have that commission or committee that will comprise the big grand bargain, which is ultimately a $4 trillion plan that will come back to each house not amendable, an up or down vote, and i hope that we can pass something like that so we can get not only the debt ceiling increased, which we have to right now, but we can really do some serious deficit reduction. >> but quickly, if that's what would happen, would it then not have in it the two vote -- the two votes that speaker boehner has in his plan? >> that's probably, at the end of the day, what is going to be the clencher. >> okay. >> but it's going to be a clencher that will have the senator mcconnell provision, which is there's a resolution of disapproval, so, in effect, when the president raised the debt ceiling, it's not going to be disapproved. >> okay. >> and that's the parliamentary machinations that go on. >> the democratic plan being offered by senator reid is near as i can tell here, would give the republicans the two things they have demanded all along, you have one, spending cuts equal to or greater to any increas
are not voting for the plan, is that correct? >> no, sir. >> why not? >> not good enough. we have a very big problem. i appreciate the speaker's effort to try to get something through when you have a senate that won't have a debate, but we need a bill that solves the problem long term. i don't think it does enough. i'm optimistic we can still do a better job to solve our nation's problems. >> have you been called in by the leadership this afternoon? >> i have not been called in. i made it clear early on i think we can do better. >> what are you hearing from the republicans? i think we need you to join with us. specifically, what are they saying? >> this is very important. this is the only thing that can happen. then we hear a word that may be tabled in the senate, again. my concern is with the senate that refuses to vote on any plan. the balanced budget amendment has to be done. when we hear about downgrades and defaults, my concern is a bill like this is not good enough to avoid a downgrade. >> is there anything that would satisfy you now? if the speaker said i need to know what you want, w
amendment? >> well, this has become a very big subject in the law professor world. the 14th amendment is one of the most familiar parts of the constitution, guarantees due process of law, equal protection of the law. but there is frankly a provision in section 4 that i have never paid any attention to before. and it goes like this. section 4 of the 14th amendment said "the validity of the public debt of the united states shall not be questioned". now, i don't know exactly what that means. i don't think anybody knows precisely what that means. but it has been suggested that under that provision, president obama could simply order that the debt be paid and that this crisis be forestalled. he has mostly reject that option, but as far as i've read their statements, they have not completely rejected that option. obama has always said, look, i think this should be dealt with by congress, not by unilaterally under the 14th amendment. but under my reading of their statements, they haven't completely ruled out in a total crisis situation invoking the section of the amendment and ordering the debt pai
or will this cause some bigger conversation? that's a big question. >> and earlier in the week, anderson, we were talking about whether the white house might possibly agree to some kind of a short-term patch of two to three days in order to get the negotiations really moving again. and i think, you know, as the clock ticks i think we have to look back to that scenario and wonder whether that's a possibility again. >> remember all that grand bargain big talk? doesn't that seem like 20 years ago? was that like two weeks ago? >> yeah. although if you talk to some democrats and jessica's been reporting that the white house is still talking about some kind of a grand bargain, right? so it seems like a long time ago. but funny how these things work, right? >> john, gloria thank you. i want to bring in two other perspectives now. on the left democratic strategyist cornell -- and former senate candidate mccain advisor and former hue let pack yard ceo, carly fiorina. carly, just in terms of the politics of, this how do you think republicans are looking at this in terms of the political who's going to get
. but i don't think anyone should be surprised. and they won pretty big. the question is, where l they compromise going forward. i had two republicans saying they don't want to vote for anything in the end that doesn't want to have a pass the balanced budget. to get the debt ceiling, you have to pass a balanced budget. this is too important of an issue. >> they want to vote on an amendment. and we need to have that and give them an opportunity to vote on a balanced budget amendment. and the reid cut does not -- there is more of a commitment to spending in the near term and a path way to get a retitlement with triggers to force action to get addition@savings. those are two things that have to be in there. and it's going to be fortunate get republican spoort. >> one of the political arguments and the arguments for anyone at home f you get a deal in the end there is talk that the ratings agencies will downgrade the credit rating because it's to messy. i want you to listen to the president. if you have a conservative, you don't want taxes as part of the deal. if the credit rating gets
this procedural vote to our viewers and what it means. the big vote still to come. >> wolf, they have something in the rules committee that allows members of congress to basically strike the last word if there's ame amendments and stuff that must go to it. this is a procedural vote. >> you used to work for the speaker of the house when he was newt gingrich. >> the motion is the minority party's shot at an alternative. it will be defeated by the majority. >> it's been really intense over these past 24 hours. it looked very gloomy for the speaker, john boehner. all of a sudden they sweetened the pot for the tea party supporters, freshman republicans, and now it looks like he's going to get this language passed. >> a guaranteed vote on the balanced budget amendment. i think that the speaker of the house would not even be bringing this up if he were not absolutely sure that he did not have the votes to pass it which is why he didn't bring it up yesterday. what's interesting about this is we watched for hours last night. people going in and out of his office. pizza being delivered and all the rest.
Search Results 0 to 14 of about 15 (some duplicates have been removed)